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Xi says China ‘will not close its doors to the world’

BEIJING: President Xi Jinping vowed on Wednesday that China’s economy would open further to the world, on the first day of  Communist party congress which foreign investors will scrutinise for signs that Beijing will pursue market reforms. “Openness brings progress for ourselves, seclusion leaves one behind. China will not close ...

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Dow ends at record after briefly crossing 23,000 points

NEW YORK: The Dow edged to a fresh record Tuesday, briefly topping 23,000 points for the first time, following a batch of mostly good earnings. Big gains by health care companies Johnson & Johnson and United Healthcare following earnings led the blue-chip index to another record. The Dow Jones Industrial ...

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Fuel security and power generation in the United States: Kemp

LONDON: “The resiliency of the nation’s electric grid is threatened by the premature retirements of power plants that can withstand major fuel supply disruptions caused by natural or man-made disasters,” the US Department of Energy warned last week. Fuel security is the crux of the argument made by US Energy ...

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European shares slip from highs as results, commodities weigh

LONDON/MILAN: European shares dipped on Tuesday, falling from a four-month peak as weakness among commodities stocks outweighed gains spurred by results from companies including food group Danone and education firm Pearson. Credit Suisse was also in the spotlight with its shares rising 1.2 percent on reports that activist investor RBR ...

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Brexit raises existential questions for EU capital market

PARIS: Britain’s exit from the European Union will potentially put London, the EU’s biggest capital market, out of reach, putting pressure on the other 27 countries to find new ways to finance their economies. Britain has the EU’s biggest financial market, where companies from across the EU raise money by ...

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May to pitch on Brexit at EU summit dinner

LUXEMBOURG/BRUSSELS: Theresa May will make a pitch to fellow EU leaders in Brussels on Thursday as she tries to break a deadlock in Brexit talks that has left Britain’s future trading position up in the air. But EU officials expect no movement in negotiating positions from either side before the ...

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Fed pick coming in ‘fairly short’ time: Trump

WASHINGTON: President Donald Trump said Tuesday he would choose a new Federal Reserve chair among five front-runners in a “fairly short” time but stopped short of naming a favorite. Current Fed Chair Janet Yellen’s term is due to expire in February. Trump is reportedly considering candidates including former Fed governor ...

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